Cannabis News Today – July 5th, 2024

Welcome to “Cannabis News Today,” a summary of the cannabis industry’s stock and regulatory updates.

Appeal Filed Against Federal Prohibition by Marijuana Companies 

Marijuana companies, including Verano Holdings and Canna Provisions, are appealing a federal court ruling upholding the prohibition of state-regulated cannabis activities. The plaintiffs argue that federal intervention overreaches into state sovereignty, particularly when activities are confined within state borders. Read all about it on the TDR Website!

Preparing for Cannabis Earnings Season: Understanding EBITDA Margins

Cannabis MSOs have seen improving EBITDA margins over the past year, indicating lower-risk operations and enhanced profitability. EBITDA margin measures a company’s earnings before interest, taxes, depreciation, and amortization as a percentage of total revenue, providing a clear view of operational profitability. Comparing year-over-year and industry benchmarks, US MSOs showed an average EBITDA margin improvement from 9.1% to 10.7%, suggesting better cost control and efficiency. Read all about it on the TDR Website!

Global Medical Cannabis Market to Soar 

As per the latest report by Straits Research, the global medical cannabis market is projected to reach USD 77.13 billion by 2032, driven by an 18.24% CAGR. This growth is attributed to rising consumer awareness and expanding medical applications for conditions like chronic pain and mental disorders.

Whoopi Goldberg Launches New Cannabis Brand 

Whoopi Goldberg has introduced a new cannabis brand, Emma & Clyde, in collaboration with Maya Elisabeth. This venture follows their previous successful partnership in the cannabis industry, aiming to provide quality and accessible cannabis products.

Papa’s Herb Makes Canadian Cannabis History

Following updated Alberta Canada regulations, Papa’s Herb has partnered with Calgary’s Chinook Cannabis to become the first legally sold disposable vape brand at a Canadian music festival. 

Canadian Cannabis Oil Labels Found Inconsistent 

A recent study, first reported at MJ BIZ, reveals significant discrepancies in Canadian cannabis oil labeling, raising concerns about product consistency and consumer transparency. The findings suggest a need for stricter regulatory oversight to ensure accurate information for consumers.

North Carolina Begins Limited Recreational Marijuana Sales 

The Eastern Band of Cherokee Indians (EBCI) in North Carolina started selling recreational marijuana on the Fourth of July on their tribal land to their members. 

Read more cannabis news on the TDR Website!

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